Muscat – ahlibank on Sunday announced the successful completion of its advisory role for the Sustainable Development Investment Company for fundraising of RO40.6mn to finance development of 300 residential villas within The Sustainable City – Yiti.

The Sustainable City – Yiti is a collaboration between Oman Tourism Development Company (Omran) and The Sustainable City Yiti Investment Limited which is owned by Diamond Developers (UAE), garnering a total investment of RO58.2mn for the development of the villas.

The Sustainable City – Yiti is set to be Oman’s first net-zero energy city; one that promotes sustainable lifestyles through the usage of clean energy and water, as well as waste recycling, food production, clean mobility, and improved air quality. The project showcases a pioneering vision of sustainability and community support, alongside low-carbon development.

In a press statement, ahlibank said that it is an ardent supporter of national projects that boost sustainability.

ahlibank, in its role as financial advisor has been critical in structuring the transaction, creating a bankable framework, and securing attractive terms of financing. During the advisory process, ahlibank proactively assisted its client by facilitating the negotiation of financial terms, creating a financing structure compatible with the sharia financing requirements, complying with the escrow requirements for such real estate projects and helping secure necessary approvals, all in the effort to ensure the project’s financial success.

‘ahlibank is pleased to be at the forefront of facilitating a financial structure that supports the completion of a flagship project that embodies the sultanate’s vision for a sustainable future. The bank will continue its efforts of providing financial advisory services, assisting in the realisation of nation-wide projects, and acting as a catalyst for future endeavors that help the nation grow,’ the bank said.

ahlibank Investment Banking provides a comprehensive range of financial advisory and fundraising services with proven track record across products including equity/debt capital markets, debt syndications, refinancing/restructurings, M&A, private equity, Islamic finance and structured finance, complemented by its asset management team. The bank’s investment banking division offers diverse range of investment solutions across asset classes to institutions and high net worth clients and is the only bank in the country to provide brokerage and research services to clients.

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